Murry Math Lines and Price Action

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Old Nov 3, 2011, 10:58am   #61
 
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Re: Murry Math Lines and Price Action

SP are u there ?
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Old Nov 3, 2011, 9:17pm   #62
 
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Re: Murry Math Lines and Price Action

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SP are u there ?
no.... but i am....

How things going here over the Euro turmoil?! Not seen any monthly data as before?
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Old Nov 4, 2011, 12:48pm   #63
 
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Re: Murry Math Lines and Price Action

stevepatt started this thread I'm still plugging away when I can been a bit busy recently and not as much time trading

I've now got the 5m, 15m, 30m, 1h and 4h charts open at the same time and use MML a 200EMA and 30EMA and 00 and 50 numbers and look for a confluence at these levels to take a trade. It's a matter of watching price action, is it slowing down or speeding up at a particular level and by watching different TFs together you get a better idea for where it's headed.
By watching PA on all five TFs I find it a lot easier to judge my entry into a trade and once in I watch for trouble areas to exit, it works very well in choppy markets.
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Old Nov 28, 2011, 6:15pm   #64
 
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Re: Murry Math Lines and Price Action

stevepatt started this thread Took two trades short, first one was at a supply area after market failed to make a new high after New York open. The second was after retrace failed to break above 5m 4/8 MML.
I'm starting to get a better understanding of SUPPLY and DEMAND, MARKET MOMENTUM and IMPULSE MOVES along with PRICE ACTION it's a very potent mix and once mastered should lead to consistant winning trades.
The important thing with trading is to get the full picture and not just a "snap shot", I think that has been my problem in only looking at the snap shot and not the whole picture I now hope I'm on the right road to seeing the WHOLE PICTURE.
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Old Nov 29, 2011, 11:33am   #65
 
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Re: Murry Math Lines and Price Action

stevepatt started this thread I am still using MML but it's more for guidence than anything else.Took this long trade after getting momentum breaking through resistance as I entered it took off, this is the big advantage of trading with the momentum and taking the impulse moves. The 5m momentum candle, that cleared resistance, created an engulfing candle on the 1h chart.

I've got a lot to learn, it's having the desire to learn and expand your knowledge base that's important as a result I have been doing a lot of studying, of different things, to help me with trading price action because price action is the key to trading consistently in my opinion.
Trading is a giant jig saw puzzle and it's a matter of finding all the pieces you need to make trading work for you, but what fits one person might not fit with someone else it's an individual journey.
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Old Nov 29, 2011, 8:58pm   #66
 
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Re: Murry Math Lines and Price Action

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Originally Posted by stevepatt View Post
I am still using MML but it's more for guidence than anything else.Took this long trade after getting momentum breaking through resistance as I entered it took off, this is the big advantage of trading with the momentum and taking the impulse moves. The 5m momentum candle, that cleared resistance, created an engulfing candle on the 1h chart.

I've got a lot to learn, it's having the desire to learn and expand your knowledge base that's important as a result I have been doing a lot of studying, of different things, to help me with trading price action because price action is the key to trading consistently in my opinion.
Trading is a giant jig saw puzzle and it's a matter of finding all the pieces you need to make trading work for you, but what fits one person might not fit with someone else it's an individual journey.
This is soooo true.... I couldn't agree more.....
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Old Nov 30, 2011, 5:20pm   #67
 
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Re: Murry Math Lines and Price Action

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Originally Posted by stevepatt View Post
I am still using MML but it's more for guidence than anything else.Took this long trade after getting momentum breaking through resistance as I entered it took off, this is the big advantage of trading with the momentum and taking the impulse moves. The 5m momentum candle, that cleared resistance, created an engulfing candle on the 1h chart.

I've got a lot to learn, it's having the desire to learn and expand your knowledge base that's important as a result I have been doing a lot of studying, of different things, to help me with trading price action because price action is the key to trading consistently in my opinion.
Trading is a giant jig saw puzzle and it's a matter of finding all the pieces you need to make trading work for you, but what fits one person might not fit with someone else it's an individual journey.
Hi Steve,

What is it that you have been studying (book, web, other?), I'm always keen to find out what else I can study to increase my PA knowledge. So it would be grateful if you could let us know what it is!

Cheers
Steve
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Old Dec 1, 2011, 7:33am   #68
 
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Re: Murry Math Lines and Price Action

stevepatt started this thread
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Hi Steve,

What is it that you have been studying (book, web, other?), I'm always keen to find out what else I can study to increase my PA knowledge. So it would be grateful if you could let us know what it is!

Cheers
Steve
Hi Steve

I started out reading The Candlestick Course by Steve Nison about a year ago and that helped a lot with understanding candle patterns and what they mean, but understanding candle patterns is only a small part of PA.

I've been looking at Sam Selden for Supply and Demand levels FXstreet.com Live Sessions Archives: Supply and Demand Trading with Mechanical Indicators and Oscillators in the Forex Markets

I've also been reading this thread on FF about trading PA using momentum and impulse and corrective moves intraday trend trading with price action @ Forex Factory

I just do a search on Google for PA and then look for things that fit with me, such as TFs used and not using indicators I'm found no need to buy anything, apart from the Steve Nison book, it's all out there on the internet for free.
I've found candle patterns when combined with trading with the impulsive moves keeps you in line with the order flow.
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Old Dec 2, 2011, 6:37pm   #69
 
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Re: Murry Math Lines and Price Action

stevepatt started this thread This is a trade I took using some of the things I've learnt from the http://www.forexfactory.com/showthread.php?t=222822 thread.

It's all about momentum and trading with that momentum and finding as much confluence as possible to strengthen the trade, the good thing about this method is it can be traded using any TF.
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Old Dec 4, 2011, 11:53am   #70
 
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Re: Murry Math Lines and Price Action

stevepatt started this thread Here is a link to youtube for videos uploaded by Tradeprice (Sho) who started the Intraday Price Action Trend Trading thread on FF.

TheTradeprice's Channel - YouTube
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Old Dec 5, 2011, 9:41pm   #71
 
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Re: Murry Math Lines and Price Action

stevepatt started this thread Entered this trade a bit late in the day, but it looked a good set up after market stalled at supply level and then tested trend lines before continuing down.

I am slowly putting all the different pieces of the jigsaw together and getting a better idea of how Price Action works. It's important to look for supply and demand levels then see momentum away from these areas (the impulse move) I then look for the corrective move and then the PA to take the trade that way you are trading with the order flow. All the information needed to trade forex is available for free on the net all I've done is cherry pick what fits with my trading style.
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Old Dec 7, 2011, 2:19pm   #72
 
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Re: Murry Math Lines and Price Action

stevepatt started this thread Took this short trade earlier, with supply level above I was reluctant to go long and then got the momentum bearish bar so I was looking for the PA to go short and entered after PB at trend line with a 5 pip SL and 15 pip TP.
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Old Dec 7, 2011, 7:43pm   #73
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Re: Murry Math Lines and Price Action

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For anyone interested here's a pdf of Mark Douglas book Trading In The Zone
Just finished reading the hardback version...well worth the read!
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Old Dec 8, 2011, 3:19pm   #74
 
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Re: Murry Math Lines and Price Action

stevepatt started this thread Took this short trade on GU, missed the big move but caught the corrective move.
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Old Dec 9, 2011, 1:31pm   #75
 
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Re: Murry Math Lines and Price Action

stevepatt started this thread There was a strong move from a supply level, it was a bar with no wick top or bottom, so entered long straight from the open of the next bar set a 10 pip SL and took 40 pips TP just short of another supply level.
Also took a short trade after a bearish pennant formed entered short when market was reluctant to move higher and at a big RN set a 10 pip SL and 15 pip TP
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